No applicability of sec. 115JB(2)(b) to Union Bank due to non-company status under Companies Act

Union Bank of India Vs DCIT (ITAT Mumbai)

Conclusion: Section 115JB (2)(b) inserted by Finance Act, 2012 w.e.f. 1-4-2013, that is, from assessment year 2013-14 onwards, were not applicable to the banks constituted as ‘corresponding new bank’ in terms of the Banking Companies (Acquisition and Transfer of Unde

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